Steven Price - Mar 14, 2023 Form 4 Insider Report for Townsquare Media, Inc. (TSQ)

Role
Executive Chairman, Director
Signature
/s/ Allison Zolot as Attorney-in- Fact for Steven Price
Stock symbol
TSQ
Transactions as of
Mar 14, 2023
Transactions value $
$0
Form type
4
Date filed
3/16/2023, 05:26 PM
Next filing
Apr 8, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TSQ Option to Purchase Class A Common Stock Award $0 +750K +39.67% $0.00 2.64M Mar 14, 2023 Class A Common Stock 750K $8.04 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person's options reported in this row will vest and become exercisable subject to the achievement of a specified volume weighted average trading price ("VWAP") over a period of 30 consecutive trading days, in each case subject to the achievement of such VWAP during the period beginning on the Grant Date and ending on the seventh anniversary of the Grant Date, and the Reporting Person's continued service through each vesting date. Subject to the foregoing conditions, achievement of a VWAP of $11.00, $14.00, and $17.00, will result in the vesting of 250,000 of the performance-based options, respectively.
F2 Includes 1,772,226 options to purchase Class B common stock that are fully vested and not subject to transfer restrictions.